The company is burning through cash at an accelerating rate with no path to profitability. The post-period capital raise at A$0.015/share (a 50% discount to the last issuance) signals severe distress. Traders should expect high dilution and monitor the September 2026 audited financials for the going concern qualification. The stock faces delisting risk if the company cannot secure additional financing.
Price Chart
Executive Summary
Radiopharm Theranostics filed its preliminary final report for FY2026 (year ended June 30, 2026), showing a sharp deterioration in financial health. Revenue from contracts with customers fell 23.8% to A$2.77M, while the net loss attributable to owners widened 50.3% to A$55.15M. Cash reserves collapsed 85.8% to A$4.14M from A$29.12M a year earlier, and net assets halved to A$22.32M. The filing explicitly notes a 'material uncertainty in relation to going concern' in the pending audit opinion. A post-period A$12.5M institutional offer and A$6M Share Purchase Plan at A$0.015/share (a steep discount to prior issuances) underscores acute capital needs. This is a bearish signal for a micro-cap biotech burning cash rapidly with no near-term revenue catalyst.
Key Facts
- Revenue from contracts with customers fell 23.8% to A$2,767,888 (FY2025: A$3,633,422).
- Loss after income tax widened 50.3% to A$56,950,494 (FY2025: A$38,342,457).
- Loss attributable to owners increased 50.3% to A$55,149,150.
- Cash and cash equivalents plunged 85.8% to A$4,138,074 from A$29,116,835.
- Net assets decreased 47.9% to A$22,323,683 from A$42,871,904.
- Net tangible assets per share worsened to (A$0.45) from (A$0.16).
- Research and development expenses surged 81.6% to A$49,962,899 (FY2025: A$27,515,194).
- Operating cash outflow deepened to A$52.78M from A$36.65M.
- The filing states the audited financial statements are expected to include a 'material uncertainty in relation to going concern'.
- Post-period: A$12.5M institutional offer and A$6M Share Purchase Plan at A$0.015/share announced July 24, 2026.
Financial Impact
Revenue down 23.8% to A$2.77M; net loss up 50.3% to A$56.95M; cash burn rate accelerated; going concern warning; post-period dilutive capital raise at A$0.015/share
Risk Factors
- Going concern qualification in audited financials due September 2026
- Severe cash burn with only A$4.14M remaining
- Highly dilutive post-period capital raise at A$0.015/share
- No near-term revenue catalysts; R&D spend increasing 81.6% YoY
- Potential OTC delisting or ASX non-compliance
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-094655 |
| Document: 0001213900-26-094655-index-headers.html | 0001213900-26-094655 |
| Document: 0001213900-26-094655-index.html | 0001213900-26-094655 |
| Document: 0001213900-26-094655.txt | 0001213900-26-094655 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 6-K | — | awaiting T+5 | — | — |
Oct 20, 2026 6d ago | 6-K | $0.9900 | awaiting T+5 | — | $0.9960 (+0.61%) |
Oct 14, 2026 11d ago | SC 13G | $1.08 $0.9500 | ▼ −12.04% | ▼ −11.02% | $0.9960 (−7.78%) |
Oct 5, 2026 21d ago | 6-K | $1.27 $1.11 | ▼ −12.60% | ▼ −13.02% | $0.9960 (−21.57%) |
Oct 1, 2026 25d ago | 6-K | $1.48 $1.11 | ▼ −25.00% | ▼ −26.30% | $0.9960 (−32.70%) |
Sep 30, 2026 26d ago | 6-K | $1.62 $1.15 | ▼ −29.01% | ▼ −30.93% | $0.9960 (−38.52%) |
Sep 24, 2026 4w ago | EFFECT | $1.57 $1.48 | ▲ +5.85% | ▲ +5.43% | $0.9960 (+36.64%) |
Sep 22, 2026 4w ago | 6-K | $1.65 $1.52 | ▼ −7.88% | ▼ −6.69% | $0.9960 (−39.64%) |
Sep 14, 2026 6w ago | 6-K | $2.01 $1.61 | ▼ −19.90% | ▼ −20.01% | $0.9960 (−50.45%) |
Sep 11, 2026 6w ago | 6-K | $1.98 $1.65 | ▼ −16.67% | ▼ −16.45% | $0.9960 (−49.70%) |
US Market Status
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